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China to step up support for opening-up in western areas

Updated: Dec 20,2018 9:06 PM     Xinhua

BEIJING — China will step up support for opening-up in the country’s less-prosperous western areas, with policy incentives to encourage more foreign investment into the region, the Ministry of Commerce said on Dec 20.

With the help of the Belt and Road Initiative and other major projects, the western areas have gradually become a frontier for the country’s opening-up, said Gao Feng, spokesperson for the ministry.

In the first 11 months, foreign direct investment (FDI) into the western areas surged by nearly 20 percent year-on-year in US dollar terms, with FDI into the high-tech manufacturing sector jumping 86 percent, data from the ministry showed.

The ministry will continue to support the western areas in participating in the development of the Belt and Road, while guiding more foreign capital into the region, Gao said.